The Next Marginal Buyer of Bitcoin w/ Lyn Alden

Lyn Alden joins Gwart to talk about the Coldcard security incident, changing self-custody heuristics, game theory behind Bitcoin soft forks, and the true addressable market for stablecoins. She shares insights on MicroStrategy's reserve guidance, her new private equity holding company Orange Juice, early-stage venture thesis, and whether Bitcoin can outperform gold as the ultimate store of value.

Timestamps:

00:00 Start

00:34 ColdCard hack

04:06 Future of Self Custody

11:14 ETF margin is easier

16:19 Stablecoins

23:16 Strategy

26:49 Strategy's game plan

29:28 Treasury companies are cooked

33:20 Strategy: when BTC becomes money

40:12 Orange Juice